【法规名称】
【法规编号】 82141 什么是编号？
【正 文】
第6页 CAP 279D SUBSIDIZED SCHOOLS PROVIDENT FUND RULES
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[接上页] Adaptation amendments retroactively made - see 55 of 2000 s. 3 (1) A reserve fund shall be maintained, to which shall be- (a) credited each year- (i) the proceeds of any realization upon sale or maturity of any investment during the year in so far as such proceeds exceed the value of such investment carried in the books of the Fund at the time of such sale or maturity; (ii) the net amount of any Government donation and DSS school donation (if any), including any dividend earned thereby, standing to the credit of any contributor to whom, under rule 13, such donation is not payable; (L.N. 79 of 2000) (iii) such proportion of the income derived from investments and deposits as the Board may think fit; and (iv) any gain arising from the revaluation of investments of the Fund as at 31 August of any year; and (L.N. 163 of 1996)(b) debited each year- (i) any loss incurred upon sale or maturity during the year of any investment having regard to the value of such investment carried in the books of the Fund at the time of such sale or maturity; (ii) such outgoings or losses incurred by the Fund as the Chief Executive may in special circumstances authorize or direct in writing; and (L.N. 163 of 1996; 55 of 2000 s. 3) (iii) any loss arising from the revaluation of investments of the Fund as at 31 August of any year; (L.N. 163 of 1996)(2) Where in any year the credit balance of the reserve fund, after crediting all the items specified in paragraph (1)(a), is less than the total of all the debits specified in paragraph (1)(b), an amount representing such difference shall be debited to the income and expenditure account and credited to the reserve fund. (3) Where in any year, after crediting and debiting all the items specified in paragraph (1), there is a credit balance in the reserve fund, such proportion as may be required to meet the 5 per cent dividend, guaranteed under rule 12(1), shall be debited to the reserve fund and credited to the income and expenditure account. (4) Where in any year, after crediting and debiting all the items specified in paragraphs (1) and (3), the credit balance of the reserve fund exceeds the aggregate of an amount equal to 5 per cent of the credit balance of the contributors' accounts as at 31 August and the total amount of any outstanding Government loans made under rule 12(2), any such excess may, at the discretion of the Board, be credited to the contributors' accounts under rule 12(5). (5) When in any year the Financial Secretary determines under rule 12(4) that any Government loan made under rule 12(2) shall be repaid, either in whole or in part, then- (a) if the credit balance of the reserve fund exceeds the amount of the loan to be repaid, that amount shall be debited to the reserve fund and credited to the dividend deficiency account; and (b) if the credit balance of the reserve fund is less than the amount of the loan to be repaid, an amount representing such difference shall be debited to the income and expenditure account and credited to the reserve fund.(6) In this rule and in rule 12, "income and expenditure account" (收支帐目) means the account maintained for receiving the credits of income from investments and income other than of a capital nature, and the debits of expenses other than of a capital nature, relating to the operation of the Fund and for determining the surplus or deficit resulting from the operation. (L.N. 240 of 1982) Cap 279D rule 12 Credits to contributors' accounts Remarks: Adaptation amendments retroactively made - see 55 of 2000 s. 3 (1) At each annual general meeting of the Board, the Board shall declare to the account of each contributor a credit of 5 per cent of each such account as at the previous 31 August, hereinafter referred to as the guaranteed dividend, out of the sum comprised of the following- (a) the income of the Fund after providing for any expenses and for the amount, if any, credited to the reserve fund under rule 11(1)(a)(iii); (b) any amount debited to the income and expenditure account under rule 11(2); (c) any amount credited to the income and expenditure account under rule 11(3); (d) any amount credited to the income and expenditure account, being the amount of the transfer to the debit of the dividend deficiency account, of the balance of the guaranteed dividend which cannot be met from the income and expenditure account and which is underwritten by the Government by way of a loan made under paragraph (2).(2) Where in any year the guaranteed dividend cannot be met under paragraphs (1)(a), (1)(b) and (1)(c), the Financial Secretary may direct that a sum, sufficient to cover the debit of the dividend deficiency account under paragraph (1)(d), to be paid out of the general revenue and referred to in these rules as a Government loan, shall be paid to the Fund. (3) A Government loan made under paragraph (2) shall not bear interest against the Fund and shall be a charge against the reserve fund. (4) A Government loan made under paragraph (2) shall be repaid out of the Fund at such time and in such instalments as the Financial Secretary may determine. |
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